World Bank: Reducing emissions could add 2.2% to GDP

The World Bank is reminding us that GDP is a measure of ‘financial value added’ and that when you reduce ‘intermediate consumption’ (e.g. of raw materials) GDP goes up even if consumer sales stay flat. This possibility is not often mentioned in political discourse. Chapter 4 of Giving Away the Planet explains it. The World Bank’s proposal would require public investment which, even when profitable, goes against the prevailing policy of reducing the ‘deficit’.